Living Into Your Strategic Plan

Overview:

Strategic management is about running the total business enterprise. It seeks to understand the challenges and the environment in which the business operates internally & externally, the direction the enterprise intends to head, the plans for getting the organization moving in the intended direction, and the actions of implementing the chosen strategy successfully.

This practical workshop aims to equip attending managers with the core concepts, frameworks, tools, and techniques of strategic management, strategy formulation, and competitive analysis. Participants will also learn to identify, analyze, & propose alternative solutions that best serve their business strategy & steps they’ll need to bring their strategy to life!

Program Objectives:

By the end of this workshop participants will be able to:

• Understand Strategy, Strategic Planning & Strategic Management
• Apply the strategic management process
• Perform strategic analysis and environmental scanning
• Analyze & select what best suits them from business strategies used around the world.
• Develop Implementation plans for strategic objectives and projects
• Evaluate performance of strategic plans and take corrective actions when needed
• Identify & evaluate the risk associated with key strategic decisions & the needed precautions

Program Content

Ø Introduction 

• Strategic management and strategic thinking defined
• Why & when strategic management
• Characteristics of a strategic Decision
• Leadership and its impact on Strategic Management
• Strategic Management Models

Ø Strategic Planning Overview

• Strategic planning defined
• Strategic Planning models

Ø Strategic Management Process

1. Strategy Formulation
2. Strategy Communication & Implementation

III.  Strategy Evaluation

1. Strategy Formulation

• Strategizing (Identifying goals and methods to achieve them)
• SMART Strategic Objectives
• Industry Analysis-Environmental Scanning (SWOT)
• Resource-Based Approach to Organizational Analysis – Using Resources to Gain Competitive advantage
• Types of Strategies
• Business Strategies

1. Finance
2. R&D

iii.            HR

1. IT
2. Marketing

• Strategy and Competitive Advantage
• Evaluating Alternative strategies
• Selecting the appropriate strategy

1. Strategy Communication & Implementation

• Communicating the strategy to the organization
• Engaging stakeholders and managing their’ expectations
• Linking strategy to action
• Ongoing update – Changing the plan as necessary
• Guidelines for managing organizational change while implementing the strategy
• Maximizing results with applied processes
• Balancing the focus between organizational performance and strategy

III.  Strategy Evaluation

• Establishing key performance indicators (KPIs)
• Setting performance metrics – measuring corporate, divisional, and functional performance
• Dimensions of strategic control
• Managing the dynamic environment & detecting changes in assumptions
• When things go wrong – Adjusting for unanticipated Events-Taking Corrective Actions

Course Duration: Two Full Days

Number of Participants: from 8 to 15